Thursday, September 14, 2017

How China is doing Digital

Quite a good piece, with statistics of interest. Updated details here.

China’s digital economy: A leading global forceBy Jonathan Woetzel, Jeongmin Seong, Kevin Wei Wang, James Manyika, Michael Chui, and Wendy WongChina is already more digitized than many observers appreciate and has the potential to set the world’s digital frontier in coming decades.China has one of the most active digital-investment and start-up ecosystems in the world, according to a new discussion paper from the McKinsey Global Institute (MGI), China’s digital economy: A leading global force. China is in the top three in the world for venture-capital investment in key types of digital technology, including virtual reality, autonomous vehicles, 3-D printing, robotics, drones, and artificial intelligence (AI). China is the world’s largest e-commerce market, accounting for more than 40 percent of the value of worldwide e-commerce transactions, up from less than 1 percent about a decade ago. China has also become a major global force in mobile payments with 11 times the transaction value of the United States. One in three of the world’s 262 unicorns (start-ups valued at over $1 billion) is Chinese, commanding 43 percent of the global value of these companies (Exhibit). .... "